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AIG ends marine and energy business with Starr
Giant US insurer American International Group (AIG) has ended its business relationship with American International Marine Agency (AIMA), a subsidiary of CV Starr & Co.
31 July 2006
Heath Lambert unveils £8.6mn profits for first half
Privately owned UK broker Heath Lambert Group has announced a 19 percent rise in profit in its half-year trading statement today (31 July) - a day before its larger rival Jardine Lloyd Thompson Group plc unveils its own figures.
31 July 2006
Lloyd's insurers continue capacity buy-outs
The drive for Lloyd's insurers to control and own the capital supporting their syndicates continued last week with a series of offers by managing agents to buy the capacity rights from Lloyd's Names.
31 July 2006
New £100mn Lloyd's vehicle misses IPO deadline
ICP Ltd, a proposed new investment vehicle specialising in the Lloyd's sector, has effectively withdrawn its plan to IPO on London Stock Exchange's Alternative Investment Market (AIM) after failing to raise sufficient funds.
31 July 2006
Fairfax shares fall after tumultuous week
Shares in Canadian combine Fairfax Holdings had dropped 3.45 percent by the end of trading on Friday 28 July - and are down around a third in the last year - after a tumultuous week which witnessed possible ratings actions...
31 July 2006
S&P may upgrade Converium to cherished "A-" status
Swiss reinsurer Converium took another welcome step on the road to recovering its crucial A- rating today when Standard & Poor's (S&P) moved its ratings onto positive watch.
31 July 2006
Bright returns to court
Michael Bright, the colourful founder of collapsed UK insurer Independent Insurance, returned to Southwark Crown Court on 25 July for a preliminary hearing in the conspiracy to defraud trial relating to the collapse of the company.
31 July 2006
GRM team moves to Capita
US insurer CNA Financial Corp has scaled back its London Market operations further as its Global Resource Managers operation has stopped offering third-party services with the departure of its audit & consultancy team.
31 July 2006
Highway changes backed by analyst
Boardroom changes at motor insurer Highway Insurance Holdings Plc have been backed by analyst Eamonn Flanagan of Shore Capital.
31 July 2006
Aeolus Re confirms launch with $500mn capital
As exclusively revealed by Insider Week on 24 July, Aeolus Re will become the latest reinsurer to begin operations on Bermuda following the raising of $500mn of capital.
31 July 2006
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